Shipyards in Korea took market share from Chinese yards in 2011 South Korean yards took market share from Chinese yards in 2011 according to a recent report in the Danish Ship Finance Review. South Korea secured new orders of 13.5 million cgt Korean yards secured almost half of the contracted capacity (13.5 million cgt). Container and Tanker orders accounted for 85% (6 million cgt and 5 million cgt respectively). South Korea therefore maintains the position as the leading global builder of Containers and Tankers. But South Korean yards also added to their market position in the specialized tonnages. For example, orders of 1 million cgt were placed for Drillships in 2011. European owners signed 60% of the orders placed in South Korea during 2011. The order cover dropped on average 14% to 28 months in 2011. Chinese yards struggled to keep pace with their South Korean peers. In 2011, Chinese yards received new orders of 9.5 million cgt (19.5 million cgt in 2010) – primarily Dry Bulk tonnage, which accounts for 60% of the Chinese orderbook. Two thirds of all new orders were placed on behalf of Chinese or European owners. The order cover of Chinese yards dropped, on average, 17% to 28 months in 2011.
A group of Naples ship owners have come to an agreement with the Chinese yard Jiangsu New Yanagzijang Construction Co. for the building of 16 90,000 ton bulk carriers. Nicola Coccia Confitarma president with a group of Naples ship-owners and representatives of the Chinese yard signed the agreement on June 20. The order was placed by Perseveranza di navigazione,d’Amato di navigazione spa, Gestioni Amatoriali spa, la Giuseppe Bottiglieri di navigazione spa e Liberty Marittime International who
According to a report from Bloomberg, Japanese shipbuilders, leapfrogged by South Korean and Chinese yards in an industry they once dominated, are counting on fuel-saving technology to help them overcome a stronger yen and high wages. A Japanese handysize dry-bulk ship typically uses about 24 tons of fuel a day, compared with 28 tons for Chinese-made ones, a Bloomberg source said. Source: Bloomberg
China Ocean Shipbuilding Industry Group (COSIG) with its unit, China Ocean LNG has bought a 47% stake in Jiangxi Petrochina Kunlun Gas (Jiangxi Gas) for a total of ($6.2m), according to a stock market statement. The Chinese yard noted the benefits of investing in Jiangxi Gas, which has state-owned enterprise Petrochina Kunlun (51% stake), as a controlling shareholder and which has good connections in the natural gas related industries
Several media outlets now report confirmations that Cosco is also targeting ultra-large vessels by ordering nine ships of 20,000 teu, with options for four additional vessels. It was confirmed that China’s Cosco has sealed deals for nine plus four options on 20,000-TEU vessels on home soil. The giant containership orders will take Cosco Container Lines above one million slots for the first time.
Contracting at Chinese yards fell significantly in 2015, but the impact has varied greatly across different types of yard, says a report from Clarkson Research Services. Many larger, state-backed builders have continued to secure a steady volume of orders, supported by domestic, state-backed owners. Meanwhile, the share of contracting at independent yards has dropped sharply, with many of these builders facing difficulties due to a lack of new orders.
Diversified SembCorp Industries Ltd., fresh from sales of key non-core assets, is hunting for foreign partners in its bid to become a global contender in its core businesses, President Wong Kok Siew said. Already Asia's largest shipyard operator, SembCorp is confident about meeting its internal target of not less than 20 percent growth in net profit per annum and has set its sights beyond Asia. "With the major divestments of non-core over
Asked what was previously on the site of the new Jiangmen Yinxing Shipbuilding yard, a company representative replies, “Mountains, we moved mountains to build ships.” With funds reportedly earned from ship breaking, Jiangmen Yinxing's parent firm has built two shipyards, one for building vessels 10,000 to 80,000 tons and this yard, at Jiangmen on a branch of the Pearl River, for vessels under 10,000 tons. In addition to several huge sheds the yard has several covered and open building and
STX Shipbuilding Co., the first South Korean yard in China, had its biggest two-day gain in more than a week in Seoul on optimism the purchase of a stake in Norway's Aker Yards ASA will add cruise liners to its range of vessels. STX Shipbuilding has more than quadrupled this year, making it the fourth-best performer in South Korea's Kospi 200 index. The stake purchase in Aker Yards will allow STX Shipbuilding to use the Norwegian company's expertise in cruise liners
Athens based, Financial Analyst John Nikolaou provides an insight into the recent market trends of the shipping industry: Greek shipowners have returned to the top of the global shipping economy by controlling a gross tonnage of 164 million tons, overtaking the Japanese on 159.4 million tons. According to Clarksons, this global lead illustrates that Greeks operate much bigger ships because they own 4,984 vessels against 8,537 managed by the Japanese and 6,427 by the Chinese.
Vietnam's coast guard has seized a Chinese vessel for intruding into its territorial waters, say local media. The ship, carrying more than 100,000 litres of fuel, was stopped near the northern maritime border last week.
The global slump in the shipbuilding industry means that South Korea's ship yards have to look far and wide for new orders. Combined, the three major yards have only received one order in the first quarter of the year.
Wärtsilä has been awarded the contract to provide the design for a new jack-up lift vessel. The contract was signed in March with a well known Chinese yard and there is an option for three more vessels. The Wärtsilä design is developed in collaboration with Altis
In 2015, seaborne steel products trade accounted for around a fifth of minor bulk trade, having grown on average by 6 percent per annum since 2010, according to Clarksons Research. Recent growth has largely been driven by Chinese exports, which reached a record 113mt in 2015
Ballast water treatment (BWT) specialist Optimarin has secured a fleet agreement for the installation of 10 of its flexible, reliable and environmentally friendly systems with an unnamed Asian shipowner. The contract, covering a group of 6,700 TEU container vessels
MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five 48m anchor handling tug supply (AHTS) vessels, each with a 75-tonne bollard pull and one 40m AHTS vessel with a 70-tonne bollard
CSSC Wärtsilä Engine (Shanghai) Co. Ltd (CWEC) celebrated the beginning of construction on its new 20,000 sq.m. factory with a groundbreaking ceremony on October 28 in Lingang, Shanghai. Following the groundbreaking ceremony
VesselsValue’s new Small Dry module provides values for MPPs (and heavy-lift), single and tweendeckers, small handys and general cargo vessels. On the heels of its November 2015 launch, VesselsValue delves deeper into the sector’s nuances, premiums and discounts.
Two new marine geological research vessels under construction in China will feature a broad scope of Wärtsilä engines and propulsion equipment. Wärtsilä has maintained a leading position in China for supplying propulsion solutions to research vessels.
DNV GL signed a newbuilding classification agreement with Shanghai Waigaoqiao Shipbuilding Co., Ltd. (SWS) for the classification of three 20,000 TEU ultra large container ships (ULCS) for COSCO Container Lines Co., Ltd. (COSCON). Scheduled for delivery beginning in January 2018
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the lowest level since 2003. That could potentially sway owners into buying new ships feeding even more into the already oversupplied fleet and worsening
Robert Allan Ltd. has been hard at work in the Chinese market for the last few years, not only for various shipyard clients, but also for local owners. In addition to major international ports in China such as the Ports of Ningbo, Tianjin, Shanghai and Shenzhen
The Chinese ship recyclers are feeling the heat as falling scrap steel prices have eaten into their revenues during the past one year, says a report in China Daily. The increasing costs of adopting "greener" vessel-breaking method also adds to the woes
The Chinese shipping companies - Chinese shipping majors Cosco Group, China Merchants Group and ICBC Financial Leasing Co- ordered 30 Valemaxes worth a combined $2.5 billion for delivery starting from 2018, deployed on Brazil-China trade routes, reports WSJ.
The shipbuilding groups CSSC and CSIC are well known state-owned builders, but there are also other yards backed by either the Chinese central government or local governments that form part of the government-backed shipbuilding sector in China, says Clarksons Research.